Oilfield Services Cos. Bouncing Back as Rig Counts Climb

Oilfield services (OFS) companies are bouncing back. Oil and natural gas drilling is "ramping up as demand continues to hold on despite a global resurgence of coronavirus infections." And that is "sweet music to the ears of oil-field services providers in the United States." So says Dan Eberhart. He should know. Eberhart is CEO of Canary, one of the largest privately-owned OFS companies in the United States. He also serves as a consultant to the energy industry in North America, Asia, and Africa. Eberhart, writing on the Forbes website, says drilling and equipment contractors "are preparing for a multi-year upcycle on the back of recovering demand and rising commodity prices."

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